Is 22488, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 22488 has remained a Seller's Market.
Key Takeaway
22488 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 22488, VA
How much do homes in 22488, VA cost?
Median Sold Price
$440,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 22488 have sold for 58.3% more than they did a year ago.
Summary: The median home sold price in 22488 was $440,000 in April 2024, up 58.3% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $703K | - | N/A |
| 2 Bedrooms | $39.9K | $314.5K | +687.2% |
| 3 Bedrooms | $136.1K | $440K | +223.3% |
| 4 Bedrooms | $390K | $392K | 0.5% |
| 5+ Bedrooms | - | $450K | N/A |
Summary: 22488 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 687.2%, 3 bedroom homes increased by 223.3%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 22488 | $278K | $440K | +58.3% |
| 22435 | $191.5K | $297.5K | +55.4% |
| 20674 | $382K | $358.7K | -6.1% |
Housing Supply in 22488, VA
How many homes are available in 22488, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The 22488 real estate market had 15 homes for sale in April 2024, a 7.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 22488 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 22488, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 22488 in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 22488, VA
How long does it take to sell a home in 22488, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 73 Days | +91.3% |
Summary: Homes in 22488 had an average of 73 days on market in Apr 2024, up by 91.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 22488 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 22488; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved